Nevada State payday loan laws:

Legal Status: Legal

Citation:
Nev. Rev. Stat. 604A.010 et seq.

Nevada State payday loan laws and terms:

Maximum Loan Amount: 25% of expected gross monthly income
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %)
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit

Nevada State payday loan laws Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Not Specified (Lenders cannot extend payment period beyond 60 days after expiration of initial loan period)
Cooling-off Period:
Repayment Plan: Yes

Nevada State payday loan laws Collection Limits:
Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account) Court Costs; Reasonable Attorney’s Fees; Service of process costs
Criminal Action: Prohibited (Unless customer acted with criminal intent)

Where to Complain, Get Information:
Regulator: Nevada Financial Institutions Division
Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121
Phone: (702) 486-4120
Fax: (702) 486-4563
Regulatory Contact: , Supervisory Examiner
Regulator Website

Licensee Database

Nevada State payday loan laws Complaint Instructions

Complaint Form Link

Nevada Payday Loans

Nevada payday loan scams

Carson City, Nevada. The Office of the Attorney General is warning consumers of a payday loan collection scam currently occurring in Nevada. Nevada citizens are receiving telephone calls from Nevada payday loan scams, claiming to be from the “Federal Government of Crime and Prevention,” “Affidavit Consolidation Services,” “Criminal Bureau of Identity,” “US Justice Department/Payday Loan Division,” “Federal Investigation Bureau,” and other bogus governmental agencies.

The callers claim that a debt is owed on a payday loan such as “Advance Cash USA” and other fake companies. The callers pose as lawyers, law enforcement officers, investigators or Federal agents. They refuse to disclose their real names and addresses, claiming that such information is “confidential.”

They use scare tactics such as claiming they are filing a lawsuit or will take action to put the called party in jail. They sometimes call people at their place of employment.

This operation is a scam, probably operating outside of the United States. One consistent pattern the perpetrators follow is frequently changing telephone numbers and using various area codes, which is indicative of internet telephone number usage from outside the country.

If you receive such a call, simply hang up.

Regardless of what information they may give you over the telephone, this is a scam and the caller is just trying to scare you into wiring money to them which you do not owe.

If you are concerned about your credit being ruined, you may receive a free copy of your credit report at www.annualcreditreport.com.

You may also put a credit freeze on your credit report.

Please be warned, however, that a credit freeze is neither free to invoke nor free to remove and you will need to remove the freeze to apply for credit in the future.

You may wish to file a complaint about these Nevada payday loans scam telephone calls with the Federal Trade Commission, the agency which enforces the Fair Debt Collection Act.

The Federal Trade Commission also offers a consumer collection guide detailing your rights at www.ftc.gov.